"Show Current Rate Only" filter displays a future-dated exchange rate instead of the actively-used rate

Products

• Clarity PPM SaaS
• Clarity FedRAMP
• Clarity PPM On Premise

Issue/Introduction

When two exchange rate records exist for the same currency pair and rate type — one with a past effective date that is actively used for conversions, and a second created with a far-future effective date (e.g., 01-Jan-2100) with the intent of marking that rate as obsolete or unused — applying the Show Current Rate Only filter on the Exchange Rates administration list displays the future-dated rate as "current," while the actively-used, past-dated rate is hidden.

Steps to Reproduce

1. Navigate to Administration > Finance > Setup > Exchange Rates.
2. Note an existing exchange rate for a given currency pair and rate type with an effective (From) date in the past — for example, 2019 — which is actively used for currency conversions.
3. Add a new exchange rate for the same currency pair and rate type, with an effective date far in the future — for example, 01-Jan-2100 — intending to mark the pair as obsolete/unused.
4. On the Exchange Rates list, check the Show Current Rate Only filter checkbox.

Expected Results: The rate that is actually applicable today (the 2019 rate) is displayed as the "current" rate, and the future-dated (2100) placeholder rate is either not shown or is clearly distinguished as not yet in effect.

Actual Results: The 2100-dated rate is displayed as "current," while the 2019 rate — the one actually used for conversions today — is not shown under the Show Current Rate Only filter.

Environment

Clarity 16.3.2, 16.3.3, 16.4.0, 16.4.1, 16.4.2, and 16.4.3

Cause

Clarity has no "active/inactive" or "obsolete" flag on individual exchange rate records. Internally, each currency pair/rate type maintains a continuous history of rates, where every record has a From Date (effective date) and a To Date (end date). The Show Current Rate Only filter does not compare the effective date to today's system date — it returns only the record(s) whose To Date is empty/null, i.e., the most recently added record in that currency pair's chronological chain that has not yet been superseded by a later one.

When a new exchange rate is entered with an effective date later than every existing rate for that currency pair/rate type, Clarity automatically:

1. Closes out the previously "current" record by assigning it an end date (the day before the new record's effective date), and
2. Leaves the newly entered record open-ended (no end date), making it the new "current" record.

This happens purely based on which effective date is chronologically the latest — it has no relationship to whether that date is in the past, present, or the future. Entering a rate dated 01-Jan-2100 causes Clarity to treat it as the new current rate and close out the true active (2019) rate, even though the 2100 date has not yet arrived.

Note: This only affects the display under the Show Current Rate Only filter. It does not affect actual currency conversion behavior. Conversions performed for cost plans, WIP, transactions, etc. select a rate based on whether the transaction date falls within a record's From Date/To Date range — not on whether the To Date is empty. Since the closed-out 2019 record's To Date becomes 31-Dec-2099, transactions dated between 2019 and 2099 continue to correctly resolve to the 2019 rate. There is no financial/conversion impact from this pattern — only the admin list filter's display is misleading.

Resolution

This is expected system behavior

Clarity does not provide a way to delete or explicitly deactivate an individual exchange rate record; rates are retained as a continuous, gapless history per currency pair and rate type (only Add and Edit operations are supported — there is no Delete action on the Exchange Rates administration screen).

Given this, do not use a far-future-dated placeholder entry to mark a rate as obsolete or unused — it does not disable the rate and instead produces the misleading display described above. Instead:

1. If the existing rate is still valid and should remain in effect indefinitely — take no action. An exchange rate record with no end date already applies indefinitely into the future until a genuinely newer rate is entered for that currency pair. There is no need to add a future-dated entry to "close out" or protect it.
2. If future-dated placeholder rates have already been created — remove that pattern going forward, since these entries do not disable anything; they simply take over the "current" designation in the filtered list while hiding the rate that is actually being used.
3. If the goal is to prevent a currency pair from being used at all going forward — deactivate one of the two currencies under Administration > Finance > Currencies (set Is Active = No), rather than manipulating exchange rate effective dates. This is a currency-level setting and affects all uses of that currency, not just the specific pair/rate type in question — confirm the currency is not required elsewhere before deactivating.